PPIO 派欧云
Shanghai model-API and agent-sandbox cloud, refiling for a Hong Kong IPO
Overview
PPIO (派欧云) is a Shanghai distributed-cloud provider selling OpenAI- and Anthropic-compatible per-token APIs for DeepSeek, Qwen, GLM, Kimi and other models, monthly Enterprise Token Plans, and sandboxes for AI agents. It was set up in 2018 by PPTV's founder and its former chief architect; its GPU rental cloud is being wound down.
Pricing
Pricing shown for reference only. These figures reflect RECATOOLS research as of 14 Oct 2026 and may be out of date or incomplete. This is not financial or purchasing advice — always confirm the current price on the provider’s official website before making any decision.
- 1M context
- Cache reads ¥0.1 per 1M
- 1M context
- Cache reads ¥0.04 per 1M
- 1M context
- Cache reads ¥3 per 1M
- 50 RPM
- 99% SLA
- Up to 200 seats
- Priority queue and dedicated technical support
- 100 RPM
- 99% SLA
- Up to 200 seats
- Priority queue and dedicated technical support
- 500 RPM
- 99.5% SLA
- Up to 200 seats
- Priority queue, dedicated group and 1v1 architect
What you can produce with PPIO 派欧云
- OpenAI- and Anthropic-compatible LLM API for DeepSeek, Qwen, GLM, Kimi and MiniMax models
- Image, video and speech model APIs (Kling, Hailuo, PixVerse, Fish Audio)
- Enterprise Token Plans with a model gateway and up to 200 seats
- Sandboxes and hosting for AI agents
- Edge cloud computing services
- Integration guides for Claude Code, Dify, RAGFlow and LobeChat
- GPU container and spot GPU rental, being wound down (flagged "coming offline soon", no date)
PPIO's pitch is price and breadth: one Chinese-language console sells per-token access to DeepSeek, Qwen, GLM, Kimi and MiniMax (Qwen3.8 Flash at ¥0.8/¥2.7 per million tokens), plus Enterprise Token Plans from ¥1,598 a month for teams of up to 200. Its Hong Kong application proof shows a fast-growing AI cloud business (RMB119.2 million in 2025, up more than tenfold) that still runs at a negative gross margin, and the group lost RMB222.9 million that year.
The "largest AI cloud" line comes from a consultancy PPIO commissioned, and the GPU rental cloud is being wound down, so do not plan new work on it. Sensible for cost-driven inference on Chinese open models; not differentiated from SiliconFlow or MoArk beyond price and its new agent-sandbox products.
What we found
PPIO (派欧云) was set up in Shanghai in 2018 by Yao Xin, who created the PPTV streaming platform and sold it to Suning in 2014, and Wang Wenyu, PPTV's former chief architect. It began as an edge-cloud business that pools idle computing capacity from scattered sources, and in 2023 it added AI cloud services. Its offshore holding company, PPLabs Technology Limited, filed a Hong Kong listing application on 10 June 2026 with ICBC International and Shenwan Hongyuan as joint sponsors, a year after its first application lapsed. It has not listed yet.
The application proof is the most useful public source. Revenue rose from RMB358.4 million in 2023 to RMB770.3 million in 2025, and AI cloud revenue went from RMB10.4 million to RMB119.2 million in a year. That AI business still ran at a negative gross margin of 10.7% in 2025, and the group lost RMB222.9 million that year after RMB293.5 million in 2024. Its market-share claims come from CIC, a consultancy PPIO commissioned; daily token volume reached 1,028 billion in April 2026, and the live site now claims more than 2.2 trillion.
For developers, PPIO is now a model-API seller first. The pricing page lists open and Chinese models per million tokens: Qwen3.8 Flash at ¥0.8 input and ¥2.7 output, DeepSeek V4.1 Flash at ¥2 and ¥8, Kimi K3 at ¥20 and ¥100, plus image, video and speech endpoints. Teams can instead buy an Enterprise Token Plan, from ¥1,598 a month for 1.6 billion credits up to ¥13,998 for 14 billion, with up to 200 seats. PPIO also sells sandboxes and hosting for AI agents. Its GPU cloud, which rented GPU containers by the card-hour, is being wound down: the site's navigation labels it "coming offline soon" without giving a date.
For Southeast Asian buyers there is some substance: the filing names a Singapore subsidiary, and the About page lists Southeast Asia among its markets. The site and docs are Chinese-language only, and no regional data-residency commitment is published.
Compiled by RECATOOLS from public sources: vendor documentation and pricing, code repositories and published reporting.
About this listing
This entry was compiled from publicly available data including PPIO 派欧云's official website, press releases, documentation, and reputable third-party publications. RECATOOLS is not affiliated with PPIO 派欧云 unless explicitly stated.
Third-party AI tools update their pricing, features, availability, and policies frequently. Information here may be outdated by the time you read this — we make reasonable efforts to keep listings current, but cannot guarantee absolute accuracy.
For the latest details, please refer to PPIO 派欧云 directly →
Spotted something out of date? Suggest an update →
Alternatives to PPIO 派欧云
More in LLMs & Chat
